The Saskatoon industrial market has moved into balance over the past 12 months, with declining vacancy and rising absorption. Vacancy within the city has risen modestly to 5.2%, which, while low, is expected to rise again next quarter as more new supply reaches the market.
- Vacancy within the city has risen modestly to 5.2%.
- Rental rates have also fallen to an average asking rate of $9.64.
- Investors have dominated the sales market in the last two quarters, in contrast to the high number of owner-user sales noted at the close of 2018.
- In total, just under 270,000 square feet of space has transacted for an average price of $145 per square foot.
- There is currently 241,547 square feet of space under development in the city.